Senator Kirsten Gillibrand, one of the US lawmakers behind negotiations for a digital asset market structure bill in Congress, has proposed barring elected officials and the president from issuing or sponsoring their own tokens, citing President Donald Trump\u2019s and First Lady Melania Trump\u2019s memecoins.<\/p>\n
In a Friday notice, Gillibrand said<\/a> that Congress should support measures barring elected officials and their spouses from \u201cissuing or sponsoring their own digital assets.\u201d The New York lawmaker said that the proposed restriction would include any US president and their spouse, but did not specifically mention extending the provision to the office of the vice president or other members of their families.\u00a0<\/p>\n \u201cThis is a commonsense requirement that should get broad bipartisan support \u2013 public officials and their spouses should not be issuing memecoins,\u201d said Gillibrand. \u201cWe cannot let self-dealing destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for the millions of Americans our financial system has left behind.\u201d<\/p>\n Source: <\/em>Kirsten Gillibrand<\/em><\/a><\/p>\n Gillibrand is one of the lawmakers behind negotiations<\/a> regarding the Digital Asset Market Clarity (CLARITY) Act in the Senate, legislation which has faced delays due to concerns about ethics, tokenization and stablecoin rewards. Although she expected the chamber to vote<\/a> on the bill by the Senate\u2019s August state work period, she added that no one would vote for the bill without addressing ethics, citing the potential of elected officials \u201c[getting] rich off of these industries because of their insider status.\u201d<\/p>\n Related: <\/strong><\/em>Senate Dems urge probe into $500M crypto deal between Trumps, UAE\u00a0<\/strong><\/em><\/a><\/p>\n During consideration of the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act) in 2025, the New York lawmaker said senators had removed provisions specifically targeting Trump\u2019s ties to the crypto industry, including his memecoin Official Trump (TRUMP).\u00a0<\/p>\n She said at the time that the memecoin was likely \u201cillegal based on current law,\u201d but addressing all of Trump\u2019s ethics problems would make for a \u201cvery long and detailed bill.\u201d Trump signed the GENIUS Act into law in July 2025.<\/p>\n Notably, Gillibrand\u2019s proposed memecoin restriction did not appear to extend to other family members. In addition to his personal investments in the crypto industry, Trump has faced criticism over his sons\u2019 involvement in the crypto platform World Liberty Financial and their Bitcoin (BTC) mining company American Bitcoin.<\/p>\n This week, Trump reported that he earned about $1.4 billion from crypto ventures<\/a> the same year he took office. The financial windfall occurred while he was in a position to influence legislation on digital assets, including the GENIUS Act and the CLARITY Act.<\/p>\n According to Trump, there was \u201cnothing illegal\u201d and \u201cnothing wrong\u201d with profiting from his investments<\/a> as president, while he did not directly answer questions about perceived conflicts of interest.<\/p>\n Magazine: <\/strong><\/em>The end of anonymity? AI could unmask crypto\u2019s hidden identities<\/strong><\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Senator Kirsten Gillibrand, one of the US lawmakers behind negotiations for a digital asset market structure bill in Congress, has proposed barring elected officials and the president from issuing or sponsoring their own tokens, citing President Donald Trump\u2019s and First Lady Melania Trump\u2019s memecoins. In a Friday notice, Gillibrand said that Congress should support measures […]<\/p>\n","protected":false},"author":1,"featured_media":32931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[11990],"tags":[5637,558,2282,23042,23043,475,18259],"class_list":["post-32930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-plug","tag-ban","tag-calls","tag-elected","tag-issuing","tag-memecoins","tag-officials","tag-senator"],"rttpg_featured_image_url":{"full":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",0,0,false],"landscape":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",0,0,false],"portraits":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",0,0,false],"thumbnail":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",150,150,false],"medium":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",300,300,false],"large":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",1024,1024,false],"1536x1536":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",1536,1536,false],"2048x2048":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",2048,2048,false],"post-thumbnail":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",370,265,false],"kava-thumb-s":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",150,85,false],"kava-thumb-s-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",230,230,false],"kava-thumb-m":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",400,400,false],"kava-thumb-m-vertical":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",370,500,false],"kava-thumb-m-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",570,450,false],"kava-thumb-l":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",1170,650,false],"kava-thumb-xl":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",1920,1080,false],"kava-thumb-masonry":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",600,999,false],"kava-thumb-justify":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",640,640,false],"kava-thumb-justify-2":["https:\/\/s3-images.ctmedia.io\/media\/article-covers\/trump-memecoin-1.jpg",1280,640,false]},"rttpg_author":{"display_name":"#RiseCelestialStudios","author_link":"https:\/\/design-providers.com\/rise\/author\/ralph-c\/"},"rttpg_comment":0,"rttpg_category":"CRYPTO PLUG<\/a>","rttpg_excerpt":"Senator Kirsten Gillibrand, one of the US lawmakers behind negotiations for a digital asset market structure bill in Congress, has proposed barring elected officials and the president from issuing or sponsoring their own tokens, citing President Donald Trump\u2019s and First Lady Melania Trump\u2019s memecoins. In a Friday notice, Gillibrand said that Congress should support measures…","_links":{"self":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/32930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/comments?post=32930"}],"version-history":[{"count":1,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/32930\/revisions"}],"predecessor-version":[{"id":32932,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/posts\/32930\/revisions\/32932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media\/32931"}],"wp:attachment":[{"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/media?parent=32930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/categories?post=32930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/design-providers.com\/rise\/wp-json\/wp\/v2\/tags?post=32930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Trump brushes off conflicts of interest concerns with crypto industry<\/h2>\n